Alan Keyes on Social Security

	Alan Keyes on Social Security American Independent nominee for President; 2004 Republican challenger for IL Senate

Keep promises but give choice of market investments

Two principles must govern any reform of Social Security: (1) promises must be kept, and (2) future generations must have more choice, as well as a higher return on their savings, through market investments. We must keep the promises that have been made to current participants of the system, while returning control of current earnings and future security to each individual citizen.

I strongly support a fundamentally new approach for younger workers, placing them in control of the investments made with their savings dollars. The elimination of the income tax will make tax-privileged “retirement” accounts irrelevant--all savings will be tax free. So while I favor the transitional policy of replacing Social Security with individually-controlled tax-free investment accounts, the ultimate solution to the problem of long-term and retirement savings is to return responsibility for this crucial function to the citizens of the country, along with the freedom necessary to accomplish it.

Source: 2008 Senate campaign website, www.alankeyes.com, “Issues” , Oct 1, 2007

Personal retirement accounts allow investing in one’s future

Q: Current estimates for the unfunded liabilities of our Social Security system are as high as $10 trillion. Would you revive Pres. Bush’s attempt to introduce personal retirement accounts as a way to reform Social Security, thus allowing all Americans, particularly low-wage workers & the self-employed, an investment in their future & ownership in the inheritance they pass on?

HUCKABEE: Yes.
TANCREDO: Yes.
COX: Yes.
BROWNBACK: Yes.
PAUL: Yes.
HUNTER: Yes.
KEYES: Yes.

Source: [Xref Huckabee] 2007 GOP Values Voter Presidential Debate , Sep 17, 2007

Keep promises but give future choice

I strongly support a fundamentally new approach for younger workers, placing them in control of the investments made with their savings dollars. The elimination of the income tax will make tax-privileged “retirement” accounts irrelevant-all savings will be tax free. So while I favor the transitional policy of replacing Social Security with individually-controlled tax-free investment accounts, the ultimate solution to the problem of long-term and retirement savings is to return responsibility for this crucial function to the citizens of the country, along with the freedom necessary to accomplish it.

Source: 2004 Senate campaign website www.Keyes2004.com, “Issues” , Sep 9, 2004

Supports privatization & Lock-box

Allow workers to invest a portion of their payroll tax in private accounts which they manage themselves, or which are managed by private firms contracted by the government.
Invest a portion of Social Security’s assets collectively in stocks and bonds instead of US Treasury securities
Support a lock box measure, limiting Congress’s ability to spend Social Security and Medicare surpluses.

Source: 2000 National Political Awareness Test , Jan 13, 2000

Keep our promises on Social Security benefits, guaranteed

For many years, my slogan on Social Security has been simple and clear. We’ve got to keep the promises we’ve made, because folks who have paid into the system in good faith ought to be able to expect that they will get the benefits that they have been promised. And we ought to guarantee that, even if we have to pay for it out of general revenue. Source: Arizona Republican Primary Debate , Nov 21, 1999

Let people who earn their money invest their own money

We’ve got to keep the promises we’ve made. But to make [Social Security] solvent, we have to stop making promises we can’t keep. We can’t keep the promise that the government is going to manage money that people earn over the course of their lifetimes better than the people who earn that money. We go out and work for it, we make the sacrifices, we have the sense to support ourselves, then we ought to be trusted to invest that money in ways that will produce the best return for us and our family. Source: Arizona Republican Primary Debate , Nov 21, 1999

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Page last updated: Oct 26, 2021